[This section could do with an update due to the rise of influencer marketing and PR and trying to go viral, although I am not sure too many real estate developments really have been successful like some consumer brands have been.]
Receiving positive publicity for your development can trump all advertising combined. I have seen one newspaper article dramatically transform a development that wasn’t selling to almost sold-out in three weeks. For large developments you might employ a public relations agency to run a publicity campaign.
Getting the right type of publicity is not always that easy. Using social media runs a fine line between blatant advertising and trying to drum up positive public relations (PR). Once you start, the publicity route can be tricky to navigate. If your development strikes issues (and they often do) PR can work against you and amplify controversy.
Therefore, if sales are already going well consider not engaging in overt publicity.
Nonetheless, here are some ideas to help generate positive publicity with the ultimate aim to sell faster, for higher prices and increase your profit:
- Pitch for editorials and news items. How does your development become an editorial? Pitch stories with a unique angle to the local newspapers and magazines. For example, promote a personal interest angle (such as a couple buying one of your homes), an exposé about you the developer, or a piece about the architect indirectly referencing your project (because of all its high technology features or because your development is part of a larger location gentrification story). All you have to do is try to get a story written about your project that convinces buyers you are offering great value with a fantastic product in a superb location and everything is going extremely well! You may just find that a deadline is looming and the editor or journalist can use your story to fill the page.
- Associate with other businesses, charities or products (such as the development site being used as the background to launch a luxury car model, or the display suite for a fashion show). Indirectly attach your project to the publicity they generate.
- Stage events inviting prominent locals. Inviting the local mayor, politician or celebrity to your development opening will increase media exposure.
- Create community functions that attract local interest stories (such as farmers’ markets, night markets or sports tournaments).
Andrew Crosby
+64 21 982 444
andrew@xpectproperty.com
